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A preliminary estimate of the year-on-year change in German consumer prices, aggregated from state-level releases through the morning.
| Published by | Destatis |
|---|---|
| Country | Germany |
| Currency affected | EUR |
| Release frequency | Monthly |
| Usual release time | 12:00 GMT (UTC+00:00) |
| Impact rating | Medium impact |
| Typical volatility | 20-40 pips on EUR/USD inside the first 30 minutes |
The Germany CPI Preliminary (YoY) is released monthly by Destatis, usually at 12:00 GMT (UTC+00:00). These are the dates inside our calendar window.
Every release in the window has already been published. The next one falls outside the four-week demo calendar.
Germany is the largest weight in the euro-area basket, so its preliminary print largely determines the bloc figure a day later.
State prints drip out from 07:00 GMT, so the euro often finishes moving before the national number lands.
Typical volatility around the release is 20-40 pips on EUR/USD inside the first 30 minutes. That is an average, not a limit: when the figure lands far from consensus, or when it contradicts the central bank's own guidance, the move can be several times larger and can extend for the rest of the session.
| Pair | Why it reacts |
|---|---|
| EUR/USD | Euro inflation repricing. |
| EUR/GBP | Relative inflation trade. |
| EUR/JPY | Carry sensitive. |
Surprise is the released figure minus the consensus forecast, in the units of the release. Green means the figure printed above consensus, red below.
| Release date | Period | Previous | Forecast | Actual | Surprise |
|---|---|---|---|---|---|
| 30 Jun 2026 | May 2026 | 1.7% | 2.2% | 2.3% | +0.1 |
| 31 May 2026 | Apr 2026 | 1.8% | 1.6% | 1.7% | +0.1 |
| 1 May 2026 | Apr 2026 | 1.9% | 1.9% | 1.8% | -0.1 |
| 1 Apr 2026 | Mar 2026 | 1.9% | 2.0% | 1.9% | -0.1 |
| 2 Mar 2026 | Feb 2026 | 2.3% | 1.9% | 1.9% | 0.0 |
| 31 Jan 2026 | Dec 2025 | 2.2% | 2.3% | 2.3% | 0.0 |
| 1 Jan 2026 | Dec 2025 | 2.1% | 2.2% | 2.2% | 0.0 |
| 2 Dec 2025 | Nov 2025 | 2.0% | 2.1% | 2.1% | 0.0 |
Destatis publishes the Germany CPI Preliminary (YoY) for Germany. It is released monthly, typically at 12:00 GMT (UTC+00:00).
We rate this release medium impact. In our sample the typical move is 20-40 pips on EUR/USD inside the first 30 minutes, though a large deviation from consensus can produce considerably more.
EUR/USD, EUR/GBP, EUR/JPY carry the cleanest reaction. Euro inflation repricing.
No. The currency reaction depends on how the figure changes the expected path of interest rates, not on whether the headline is high or low. The same surprise can be read very differently depending on the central bank's current stance.